This board is filled with "peak oil" talks everyday. Now, all of sudden, Saudi Arabic has more than plenty of oil to supply the whole world? What a joke. Wall Street never stop lying. Few years back(just before 2008 crisis), crude oil climbed from $60/barrel to $140/ barrel, the whole world blamed China for using too much oil that caused the shortage, plus "peak oil" theory. I knew that was bullshit, China's demand merely increased 1%, and caused the world oil shortage. Now crude oil tanked from $125/barrel to $57/barrel in few months, and they blame China's slow down. This is bullshit again. China's usage of oil did not even drop 1%. I am fine even Saudi sells oil at $10/barrel, I am buying. The price will come back. It happens again and again.....
we were at peak oil the first day Henry Ford drove Tin Lizzy out of his garage. We burn more in one day than it takes mother earth and a few dinosaurs a million years to produce. Nice while it lasts, but not sustainable
In 2013 I had to fly a lot. Was in 27 different airports. I saw in each airport every time dozens of airplanes being fueled. So I did some research and found out that, only in the US already, 13 571 million gallons of fuel are used in civil aviation. It also appears that in the next 17 years over 35 000 new planes will be delivered. Since the 1970's we are being told that we will run out of fuel. Which idiots would still order these 35 000 new planes if we risk to run out of fuel? If we run out of fuel nobody would waste 13 571 million gallons in the US alone already of this precious liquid. The last 30 years the oil industrie is manipulating prices with lies was my conclusion.
I think they estimate those 35000 new planes will be totally worn out before we run out of fuel, but that doesn't mean we have not been at peak oil since day one
http://gailtheactuary.files.wordpress.com/2011/04/world-oil-production-1965_2010.png This is before fracking started. Now it is massively up again. We did not reach the peak already. Planes delivered in 2030 will fly till 2050 at least. That's about 70 years after the first warning that we would run out of fuel. Evolution for US after start of fracking: http://www.energytrendsinsider.com/...duction-1965-through-2013-Fracking.png?00cfb7
well, if you figure your lifetime, you children's lifetime and your grandchildren's lifetime and your great grandchildren's lifetime, 70 years aint much. There are some interesting developments in algae oil. No matter how fast and as many kids you have, algae can have more quicker.
I mean, can you honestly look your grandchild in the eye and say, "Don't worry sweetheart, just drill baby drill. No matter how many people populate the earth and no matter how much they burn, we will never run out of oil. The earth has an unlimited supply. There is no peak."